Australian parents: doing it for the kids – or not…

New research from Lifewise shows that despite over two thirds (69%) of parents saying that they take less risks since becoming parent, 58% of parents still admit to having used their mobile phone while driving. And when it comes to risky activities, 45% of parents said that they would go motor biking if given the opportunity.

When it comes to geographic breakdown, parents who live in cities struggle far more than those living in rural areas to deal with the stress of being a parent. Parents living in cities are battling to balance earning enough to support their family while finding the time to spend with them.

The findings show that parents in capital cities were more concerned about their ability to earn an income. 58% of city parents believe the happiness of their children would be greatly affected if they or their partner were unable to work, compared to just 47% of parents from rural areas. In Australia’s most expensive city – Sydney – 75% of mums and dads say their ability to earn is important to the wellbeing of their kids, compared to just 61% in regional NSW.

In terms of work-life balance, the research findings provided a fairly bleak outlook, with over half of all parents spending under four hours a day on “parenting” duties.

The research demonstrates that because parents are so dedicated to earning money, they rarely find the time to spend it with their children. Even more alarming is the fact that because they are so preoccupied, only 28% of parents said they had a life insurance policy outside any provided by their superannuation fund. The research reminds Australians once again of the importance of putting safety nets in place to protect the family lifestyle against financial hardship which may result from unexpected events.